How many non-congruent squares can be drawn, such that their vertices are lattice points on the 5 by 5 grid of lattice points shown? [asy]
dot((0,0));dot((1,0));dot((2,0));dot((3,0));dot((4,0));
dot((0,1));dot((1,1));dot((2,1));dot((3,1));dot((4,1));
dot((0,2));dot((1,2));dot((2,2));dot((3,2));dot((4,2));
dot((0,3));dot((1,3));dot((2,3));dot((3,3));dot((4,3));
dot((0,4));dot((1,4));dot((2,4));dot((3,4));dot((4,4));
[/asy]
To start, we can clearly draw $1\times1$,$2\times2$,$3\times3$,and $4\times4$ squares.  Next, we must consider the diagonals.  We can draw squares with sides of $\sqrt{2}$ and $2\sqrt{2}$ as shown: [asy]
draw((1,4)--(0,3)--(1,2)--(2,3)--cycle,blue);
draw((2,4)--(0,2)--(2,0)--(4,2)--cycle,red);
dot((0,0));dot((1,0));dot((2,0));dot((3,0));dot((4,0));
dot((0,1));dot((1,1));dot((2,1));dot((3,1));dot((4,1));
dot((0,2));dot((1,2));dot((2,2));dot((3,2));dot((4,2));
dot((0,3));dot((1,3));dot((2,3));dot((3,3));dot((4,3));
dot((0,4));dot((1,4));dot((2,4));dot((3,4));dot((4,4));
[/asy] In addition, we can draw squares with side lengths diagonals of $1\times 2$ and $1\times 3$ rectangles as shown: [asy]
draw((2,4)--(0,3)--(1,1)--(3,2)--cycle,red);
draw((3,4)--(0,3)--(1,0)--(4,1)--cycle,blue);
dot((0,0));dot((1,0));dot((2,0));dot((3,0));dot((4,0));
dot((0,1));dot((1,1));dot((2,1));dot((3,1));dot((4,1));
dot((0,2));dot((1,2));dot((2,2));dot((3,2));dot((4,2));
dot((0,3));dot((1,3));dot((2,3));dot((3,3));dot((4,3));
dot((0,4));dot((1,4));dot((2,4));dot((3,4));dot((4,4));
[/asy] Any larger squares will not be able to fit on the lattice. There are a total of $4+2+2=\boxed{8}$ possible squares.